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China’s exports grew less than anticipated last month in renminbi terms, taking its trade surplus to the highest level since January when measured in local-currency terms.

Exports grew 14.3 per cent year on year in April in renminbi terms, down 8 percentage points from their pace in March, according to the General Administration of Customs, and undershooting a median forecast of 16.8 per cent from economists polled by Bloomberg.

Imports slowed as well to growth of 18.6 per cent from 28.6 per cent a month prior, tacking lower against expectations expansion would accelerate to 29.3 per cent.